Logistics Development Group PLC Finsbury Food Group Investment (1745D)

TIDMLDG

RNS Number : 1745D

Logistics Development Group PLC

18 October 2022

Logistics Development Group plc

("LDG") or the "Company")

Finsbury Food Group Investment

LDG is pleased to announce that, further to its announcement on 26 August 2022, it has acquired a further 5,132,000 ordinary shares in Finsbury Food Group plc ("Finsbury") (LON:FIF) at an average price of GBP0.81 per ordinary share, for a total cash consideration of GBP4,165,820.

Following these purchases, LDG is interested in 8,832,000 ordinary shares in Finsbury, representing approximately 6.77% of Finsbury's issued share capital.

Finsbury operates a specialty foods business which supplies boxed cakes to supermarkets located throughout the United Kingdom. Finsbury's products include novelty and celebration cakes, chocolate cakes, and muffins.

For the 53 weeks period ending 2 July 2022 Finsbury reported a pre-tax profit of GBP17.0 million. As at, 31 December 2021, Finsbury reported net assets of GBP113.9 million.

For enquiries:

 
 Logistics Development Group             Via FTI Consulting 
  plc 
 FTI Consulting 
  Nick Hasell 
  Alex Le May 
  Cally Billimore                      +44 (0) 20 3727 1340 
 
 Strand Hanson Limited 
  (Financial and Nominated Adviser) 
  James Spinney 
  James Dance 
  Abigail Wennington                   +44 (0) 20 7409 3494 
 Investec Bank plc 
  (Broker) 
  Gary Clarence 
  Harry Hargreaves                     +44 (0) 20 7597 5970

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October 18, 2022 02:00 ET (06:00 GMT)

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